PHAIDON - REGAN ARTS - ARTSPACE PROJECTED OUTLAYS GRAND TOTAL INFLOWS FY2014 FY2014 OCT NOV DEC TOTAL FY 2015 FY 201S FY 2015 FY 2015 fY 20IS JAN FEB MAR APRIL MAY OUTFLOWS BY DATE APO 2 ONLY ARTSPACE 3,050,000 100,000 100,000 500.000 250,003 200,000 325,000 0 AP02 - 85.075% PHAIDON PRESS GBP MP 2,250,000 GM 750,000 (GOP 1.000.0001 'GBP 500,000) APOI- 14.925% 1.6 1.6 1.6 1.6 1.6 6,480,000 5 3,600,000.00 S 1,200,000.00 4,800,000 $ 11,600,000) 5 (800,000) $ APO2 - 85.075% REGAN ART 5,355,125 448,500 459,958 908,458 351,458 362,917 362,917 374,375 374,375 APOI- 14.925% PIMMON DRAWS ON UNE Of CREDIT • MONIES NOT REPAN) TO TRUSTS • RETAINED BY PHAIDON GLOBAL AMOUNTS IN MM'S APO 1 10 14.9254% APO 2 se 80.5970% CST 1997 TR 3 4.4776% 85.0746% 67 ASSUME APO 2 TO FUND FOR 1997 CST TRUST EFTA00607784